Whether or not we see a Santa Rally this year, both the Dow Jones and the FTSE100 have already been flying high as we approach the year end, despite most expert predictions and the Brexit and Trump votes.

Consolidating your various pensions into one can make keeping track of your pension savings easier. It can also potentially reduce the amount of management fees you are paying. And when you eventually come to retire, it will also be more straightforward if you merely have one scheme to deal with.

In his first Autumn Statement, Chancellor Philip Hammond praised the "strength and resilience" of the UK economy since the Brexit vote and pointed out that the IMF predicts the UK will be the fastest growing major economy this year, with employment at a record high.

Inflation rose to its highest level in 22 months in September. The consumer prices index (CPI) rate of inflation increased to 1.0%, up from 0.6% in August and looks certain to go even higher in the next few months, possibly exceeding the Bank of England’s 2% target next year.

Stock markets in the UK soared yesterday, with the FTSE100 closing at 7,074.34, its highest level since the record finish of 7,104 in April 2015. Indeed, it came close to setting a new record high, before a last-minute burst of profit taking. Meanwhile, the FTSE 250 mid-cap index did close at a new peak.

According to BofA Merrill Lynch, we are in the midst of the second longest cyclical bull market ever. They say the cyclical bull market started on 09 March 2009, and has now comfortably surpassed the June 1949-August 1956 rally, only being beaten by the December 1987-March 2000 advance.

As widely trailed, UK interest rates were cut today from 0.5% to 0.25% - a record low level and the first cut for over 7 years. The decision to cut interest rates was approved unanimously by the members of the Monetary Policy Committee (MPC) and further cuts were not ruled out.